US regulator plans enforcement actions against former Wells Fargo executives: Source
Sarge986 Stephen Guilfoyle discusses Wells Fargo CEO Tim Sloan’s testimony on Capitol Hill.
WASHINGTON (Reuters) - One of Wells Fargo & Co's top regulators plans to bring enforcement actions against as many as 10 former executives in relation to the bank's sales practices scandal as soon as Thursday, a person familiar with the matter told Reuters.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WFC | WELLS FARGO & CO. | 75.96 | +1.13 | +1.51% |
The Office of the Comptroller of the Currency (OCC) actions may result in monetary penalties against the executives and bans from working for OCC-regulated banks, the person said. Wells Fargo declined to comment. A spokesman for the OCC did not immediately provide comment.
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(Reporting by Karen Freifeld, Chris Prentice, Peter Schroeder and Imani Moise; editing by Michelle Price and and Jonathan Oatis)